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Novi Connect
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Platform for sustainable product development compliance
Novi Connect
Work Here?
Platform for sustainable product development compliance
About Novi Connect
Industries
Consulting
Enterprise Software
Consumer Goods
Company Size
11-50
Company Stage
Seed
Total Funding
$50M
Headquarters
San Francisco, California
Founded
2017
Overview
NoviConnect operates in the sustainable product development sector, providing a platform that assists brands, retailers, and chemical manufacturers in creating and marketing environmentally friendly products. The platform allows users to analyze and verify their products against over 100 sustainability standards, helping them ensure compliance with regulatory requirements. Clients can search for ingredients and streamline their product development process using the comprehensive database and analytical tools offered by NoviConnect. Unlike its competitors, NoviConnect focuses specifically on sustainability compliance, catering to the growing demand for transparency in products. The company's goal is to empower businesses to make informed decisions about their product formulations, ultimately enhancing their operations and increasing sales.
Simplify's Take
What believers are saying
- Increased demand for AI-driven sustainability solutions boosts Novi Connect's market potential.
- The rise of 'clean label' products aligns with Novi Connect's mission for transparency.
- Integration of blockchain can enhance Novi Connect's data verification processes.
What critics are saying
- Emerging startups in the sector could threaten Novi Connect's market share.
- Rapid technological advancements may strain Novi Connect's resources to stay competitive.
- Potential data privacy concerns could lead to regulatory scrutiny or loss of trust.
What makes Novi Connect unique
- Novi Connect uses AI to create detailed chemical profiles for trade materials.
- The platform offers access to over 100 sustainability standards for product verification.
- Novi Connect acts as a third-party translator between suppliers and brands for data management.
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Funding
Total Funding
$50M
Above
Industry Average
Funded Over
3 Rounds
Tiger Global
Greylock PartnersGrowth & Insights and Company News
6 month growth
↓ -4%1 year growth
↑ 2%2 year growth
↓ -12%In February of 2022, Novi announced $40M in new funding from Tiger Global, Greylock, and Defy.
Novi Connect, a business-to-business (B2B) marketplace for sustainable, innovative ingredients and packaging, raised $40 million in a funding round led by Tiger Global.
Novi has announced that it raised $40 million in its latest funding round, led by Tiger Global with follow-on investments from Defy.vc and Greylock.
Novi Connect, a San Francisco CA-based B2B marketplace for sustainable packaging, raised $40M in funding. The round was led by Tiger Global with participation from Defy.vc and Greylock. The company intends to use the funds to: build additional technology for both sides of the marketplace to comply with evolving sustainability claims, grow its selection of [] The post Novi Raised $40M in Funding appeared first on FinSMEs.
Tiger Global has led a $40 million round for Novi Connect, the developer of a B2B marketplace designed to help consumer brands find sustainable ingredients and packaging.
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About Novi Connect
Industries
Consulting
Enterprise Software
Consumer Goods
Company Size
11-50
Company Stage
Seed
Total Funding
$50M
Headquarters
San Francisco, California
Founded
2017
There are no jobs for Novi Connect right now.
Find jobs on Simplify and start your career today